U.K.’s Theresa May Says Brexit Negotiations Have Reached ‘an Impasse’

The prime minister said it was now up to the European Union to provide an alternative Brexit deal

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Embattled British Prime Minister Theresa May on Friday warned that Brexit talks had hit an impasse and called on European leaders to present new proposals as negotiations between the two sides turn increasingly acrimonious. Following a tense meeting with her EU counterparts earlier this week in Salzburg, where her post-Brexit plans were rejected as being unworkable, May said it was now up to European leaders to smooth the path for Britain’s departure from the European Union. “We now need to hear from the EU what the real issues are and what their alternative is so that we can discuss them,” May said, standing in front of two Union Jack flags in Downing Street. “Until we do, we cannot make progress.” Investors are becoming increasingly nervous that the U.K. could crash out of the EU without a deal. The pound GBPUSD, -1.4169% slipped further against the dollar DXY, +0.34% and the euro EURUSD, -0.2547% as May spoke, adding to losses earlier in the day. The pound was down 1.5% against the dollar and 1% against the euro.